Mendocino County Employees Retirement Association 6/17/2026

The Mendocino County Employees Retirement Association held a Board of Retirement meeting on June 17, 2026, focusing primarily on pension plan actuarial assumptions and investment matters. The board reviewed and discussed the actuary's experience study, which recommended lowering the investment return assumption from 6.5% to 6.25%, impacting employer contribution rates and unfunded actuarial liabilities. Due to concerns from the county about budget constraints and competing priorities, the board decided to adopt all assumption changes except the investment return rate, deferring that decision to the incoming actuary for further analysis to be presented in August. The meeting also covered investment education plans, a custodial contract extension with State Street Bank, and a contract transition involving AB small cap growth strategy. Additionally, the board adopted a new acceptable use of artificial intelligence policy with minor amendments. A pensionable pay code for police leave differential pay was approved to improve data accuracy. The board took action to grant a disability retirement application and discussed the executive director's performance evaluation in closed session without final action. No new RFPs or vendor selections were initiated during this meeting, but the discussion on actuarial assumptions and investment management reflects ongoing procurement-related oversight and contract management activities.